(Last Updated September 8, 2021 0:12 GMT)
At the time of this writing, AUDJPY’s rate is up 160 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
AUDJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
After 4 up days, AUDJPY snaps its streak, falling 6 pips (-0.08%) over the past day to close at an exchange rate of 81.687. Out of the 39 instruments in the Forex asset class, AUDJPY ended up ranking 23rd for the day in terms of price change. The price chart of AUDJPY below illustrates.
AUDJPY Technical Analysis
The first thing we should note is that AUDJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 34.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days AUDJPY’s price has gone up 8 them.